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Nintendo has once again revised its hardware forecast downwards, as sales of the Nintendo Switch and its games have fallen short of expectations. For the first nine months of the current financial year, revenue from Nintendo's dedicated game console business dropped by 31.7% year-on-year to 895.5 billion yen (approximately $5.7 billion), reflecting a significant decline in sales of both the Nintendo Switch and its software. Additionally, income from mobile and IP-related ventures saw a decrease of 33.9% year-on-year, totaling 49.7 billion yen (approximately $320 million), primarily due to the high benchmark set by the 2023 blockbuster, *The Super Mario Bros. Movie*. Consequently, Nintendo's gross profit fell by 27.3% year-on-year to 565.5 billion yen (approximately $3.6 billion).

Nintendo has adjusted its financial projections for the fiscal year ending March 2025, marking the second consecutive downward revision. The company now anticipates selling fewer Nintendo Switch units than initially forecasted, lowering its expectations by 1.5 million to 11 million units, and reducing software sales expectations by 10 million to 150 million units. Despite the Switch being in its eighth year, the declines have been more pronounced than anticipated. Nevertheless, with over 150 million units sold, the Nintendo Switch remains a phenomenal success. While surpassing Sony's PlayStation 2, which sold 160 million units, to become the best-selling console of all time seems out of reach, the Nintendo DS's record of 154 million units is within striking distance.

Nintendo described the sales of the Switch and its software during the third quarter ending December 31, 2024, as "stable given the fact that the platform is in its eighth year." Overall sales for the entire Nintendo Switch family of systems decreased by 30.6% year-on-year to 9.54 million units, and software sales declined by 24.4% year-on-year to 123.98 million units. However, the launch of new titles like *The Legend of Zelda: Echoes of Wisdom* (3.91 million units), *Super Mario Party Jamboree* (6.17 million units), *Mario Kart 8 Deluxe* (5.38 million units), and *Nintendo Switch Sports* (2.63 million units) in the last three months have been notable. *Mario & Luigi: Brothership* sold 1.4 million units. *Super Mario Party Jamboree*, in particular, has been a major hit, outpacing the sales of previous Mario Party titles on the Switch within the first 11 weeks of its release on October 17, 2024.

As Nintendo prepares for the release of the Switch 2 later this year, it's encouraging to note that more people are playing the Switch now than ever before, with 129 million 'annual playing users' in 2024. This indicates sustained interest and engagement among fans, even nearly eight years post-launch. Nintendo reported that despite a year-on-year decline in Switch unit sales, consumer interest remains strong, with some weeks during the holiday season surpassing the previous year's sales.

Investors are eagerly awaiting the launch of the Nintendo Switch 2 following Nintendo's latest financial report. Nintendo has announced several upcoming titles for the original Switch, including *Xenoblade Chronicles X: Definitive Edition* set for release on March 20, and *Pokémon Legends: Z-A* and *Metroid Prime 4: Beyond* scheduled for 2025. The Nintendo Switch 2 was mentioned, though no new information was provided beyond the previously announced 2025 release and a video showcasing the hardware. Nintendo plans to host a Switch 2 Direct on April 2 and organize hands-on events in cities worldwide to further unveil the new console.